Why Was the Coinage Act of 1873 Also Known as the "Crime

question 59

Multiple Choice

Why was the Coinage Act of 1873 also known as the "Crime of '73"?

• A) The elimination of silver coinage from circulation made it more difficult for farmers to pay off their debts.
• B) The elimination of gold coinage from circulation made it more difficult for farmers to pay off their debts.
• C) The printing of paper money backed by silver led to runaway inflation that ruined many large business corporations.
• D) Silver coinage had to be implemented because corrupt government officials stole much of the gold reserves set aside for coinage.

---

Definitions:

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled, focusing on balancing interests among its stakeholders.

Special Shareholder Meetings

Meetings called outside the regular schedule to address urgent or specific issues affecting shareholders.

Revised Act

An updated version of a law or statute that incorporates amendments or corrections.

Corporate Secretary

A corporate secretary is an officer of a company responsible for ensuring compliance with statutory and regulatory requirements and implementing decisions made by the board of directors.